India’s realty sector, which had seen as rush of activity last year as Housing had tried to upend the industry, is finally seeing some traction again. Times Internet owned Magicbricks.com has acquired property analysis platform Properji.com for an undisclosed amount. Properji provides detailed research services to buyers and has prepared reports for about 100 projects.
Properji.com was founded in 2013 and is operational in Bengaluru. After the acquisition, MagicBricks plans to come up with reports for more than 10,000 projects in six metros that would help prospective buyers in taking right decision.
“We have acquired Properji.com which does independent analysis of projects. This will help the consumer to make an informed property buying decision,” Magicbricks.com CEO Sudhir Pai said. Some parts of these report are free for consumers, while other parts are chargeable.
This is the first acquisition by the Magicbricks.com. Pai said Magicbricks.com generates huge data through listing of properties and same would be utilised for analysing the projects.
The property sector had seen deal activity last year as Housing has first acquired Realty BI, a property intelligence firm, and then taken over Indian Real Estate Forum, a popular online retail discussion site, for Rs. 8 crore.